Viafin Service (VIAFIN) Q4 2025 earnings summary

Executive summary

• Achieved record-high EBIT of €6.4M (up 11.6%) and revenue of €99.6M (up 8.7%) for 2025 compared to 2024.

• 87% of revenue from maintenance, 13% from projects; project revenue declined as expected.

• Strong cash flow from operations at €9.7M and cash conversion at 119.8%.

• EPS increased to €1.37 from €1.26; proposed dividend of €0.75 per share.

• Workforce grew by 67 to 682, mainly due to acquisitions.

Financial highlights

• H2/2025 revenue €49.7M (down 0.6%), EBIT €4.1M (up from €3.9M), net income €3.1M.

• Full-year 2025 revenue €99.6M (up 8.7%), EBITDA €8.1M (8.2% margin), EBIT €6.4M (6.4% margin), net income €4.9M.

• Cash and cash equivalents at year-end €11.0M; operating cash flow before financing and taxes €9.7M.

• Equity ratio 54.0%; negative net working capital at -€4.2M.

• Dividend proposal of €0.75 per share, up from €0.65.

Outlook and guidance

• 2026 revenue expected at €90–100M; EBIT guidance €5.8–7.4M.

• Strategic and financial targets for 2026–2027 unchanged: 8% EBIT margin, >100% cash conversion, 10% annual revenue growth, and growing dividend.